Abstract: "The purpose of this research was to explore and understand better how consumers perceive the value of their shopping experiences in two key retail outlets--mass merchandisers and department stores--as well as how consumers' shopping orientations, recreational or functional, relate to consumer perceived value (CPV). An initial qualitative approach was used, i.e., in-depth, lightly structured interviews, to explore the perceptions consumers have of the value they gain during their shopping experiences in retail stores. Findings from the qualitative study were combined with an in-depth literature review to develop a survey to measure consumers' perceptions of transaction value, acquisition value, efficiency value, choice value, esthetic value, curiosity value, social interaction value, social status value, and self-gratification value when shopping in mass merchandisers and department stores. 800 surveys were disseminated, which resulted in 372 usable questionnaires for analysis, a 46.5% response rate. The findings indicated that consumers do have different levels of perception on some of the value dimensions tested when they shop at mass merchandisers versus department stores. Specifically, consumers perceived higher levels of acquisition value and efficiency value at mass merchandisers than at department stores, and they perceived higher levels of transaction value, esthetic value, curiosity value, social interaction value, social status value, and self-gratification value at department stores than at mass merchandisers. Choice value was not perceived as different when consumers shopped at the two different retail outlets. It was also found that shopping orientation, a recreational or functional shopping approach, significantly affected consumers' value perceptions when they shopped. Recreational shoppers perceived significantly higher levels of all the value dimensions investigated than functional shoppers at both department stores and mass merchandisers. The study results suggest that retailers may first want to target the perceived values most salient to consumers in order to increase their profitability, and, second, they may want to focus on the less salient values identified in the study to gain a better understanding of why consumers rated these values much lower when shopping in their establishments."--Abstract from author supplied metadata.